There was a skit one time on Saturday Night Live, many years ago, where they had the "Change Bank". The bank would you give you the exact change for your currency. So if you brought in a $20 they would give you two $10s and so on. Their gig was that they would make money on volume.

The real objective to accumulating money is to get it to work for you...so you can use it and your time to benefit others.

I saw a recent video from Grant Cardone where he was talking about allocating 40% of your money for savings. Most people you hear talk about saving 10%, but he was advocating 40%. What I liked about his comments is that he demonstrated a discipline with his money to achieve a higher objective.

https://www.youtube.com/watch?v=Iq4qASI1Fok

But he started first with having a goal to work toward; which gave purpose to the effort of managing the money.

When you get to a point where you can invest in something; it becomes critical to be able to make a correct choice.

It is critical to have a list of items you look for when making an investment decision.

I've heard that he will look at 100 real estate properties and invest in only two of them. He will never invest in a property if he cannot see how it will generate cash flow for him.

I was looking through some sites and saw a list of things to consider when investing.

https://www.moneyadviceservice.org.uk/en/articles/top-tips-for-choosing-investments

1. Review your needs and goals 2. Consider how long you can invest 3. Make an investment plan 4. Diversify! 5. Decide how hands-on to be 6. Check the charges 7. Investments to avoid 8. Review periodically

Recently I have seen many great opportunities for real estate investing. Using a list like the one above is a very helpful practice. So come up with your own list and stick with it.

Not only is this good practice, but recently, over the past two days, the overall market indexes and ETFs pulled back to some support levels. Be sure to have a trading or investment strategy that will protect your capital in down turns. Learn what it means to hedge.

And by all means come up with a list of items you will review to help protect hard-earned capital.

Thanks for joining, until next time...get a list to figure out if you will put your Money HERE or THERE!!

Recently I interacted with someone who had created an ICO (Initial Coin Offering) in the crypto-currency world. It is fascinating to see these digital currencies come to life with communities of interest that surround them. However, there are times when I think to myself, "Would I really put my capital to work in one of these startup instruments?" To do so we each need to think long and hard about each opportunity and the allocation of risk in our portfolio.

Perhaps you have a diversified investment strategy where there is a sliver of funds allocated for a higher risk investment. I certainly won't suggest to do it or not do it. Each of us have to make our choices.

But as I reviewed my own portfolio I thought; it would be great to have an alternative that was in a regulated market but was impacted or correlated to crypto currencies.

There are many companies out there today who are investing in the crypto world in one way or another. The stocks for some of those companies are traded on the NYSE or NASDAQ or others. I have a list of some of those companies that have sufficient liquidity that I watch.

Let's walk through some of these on my short, short list. These can be traded using options or outright stock purchases.

AMD: Semiconductor, chip provider company that is used by crypto exchanges, traders and miners; it has been on a very steep bullish run since April and appears to be over extended at the moment.

FCFS: With their Pay Day store fronts they are posed for bringing crypto to the masses. Whether or not you agree with their business model they have access to a large customer base. But their stock trades less than 1,000,000 in volume so you may have some slippage.

FNJN: Finjan Holdings is a cybersecurity company whose technologies are needed by crypto and non-crypto organizations.

NVDA: Semiconductor, chip provider company that is used by crypto exchanges, traders and miners; it has been on a bullish trend for several years and recently broke out above 270 on a steep bullish climb.

RIOT: Invested in Bitcoin Mining operation and in leveraging blockchain technology in financial services. It's price action closely aligns with Bitcoin price movement. It has options for trading and liquidity.

SQ: A financial services organization that provides mobile payments. Square's Cash app allows user to trade bitcoin. It's stock trades on very high volume; generally over 9 million. Currently this stock is super extended, hitting highs last week.

Trading these stocks lets you be close to the crypto-currency action while staying in the regulated markets.

These stocks have high correlation to bitcoin and other crypto activities.

However, there are other stocks like IBM who have invested in blockchain technology. However, they have so much incumbency in other technologies it is difficult to draw stock price action correlation directly to blockchain or bitcoin.

Now, finding a signal in one of these crypto-correlated stocks that I shared earlier can be accomplished using some core technical analysis skills that you likely already have. Let's look at a couple examples to illustrate.

Let's pick RIOT first, largely because it's price movement aligns closely with Bitcoin. Here's a simple rule to follow for trade entries.

Given that RIOT behaves like Bitcoin I use a trade entry signal that is the same as a Bitcoin trade entry signal. Remember 8, 50, 5. You are looking for RIOT's price relative to the 8 moving average. You are looking for the position of the RSI, above or below the 50 line, and you are looking for a probability scoring of < -5 or > 5.

That may sound like jumbled noise; if so you can reach out to me and I'll be happy to explain further. Also, I will have a picture on my blog at http://blog.financialinvestingradio.com/

You'll see signals on June 11th, July 23rd, Aug 13th...and now it is getting posed for another signal. Take a look!

Thanks for joining and until next time, look for signals on your crypto stocks!

Liquidity on the crypto-currencies is a challenge at times; and while the feds work out their regulatory magic there are still opportunities to trade these currencies using key trade signals. But before we get to that...what on earth does fear have to do with Bitcoin?

Well it comes down to correlations. Some people are looking for correlations with Bitcoin. In other cases I have seen proposed correlations with the VIX. As you may or may not know, the VIX is an indication of the anticipated fear in the stock market. In general as the VIX goes up in value then the general market typically goes down.

There's a whole other discussion on whether the VIX is trustworthy. But for our purposes here we are looking at Bitcoin and VIX. And some have proposed that as the VIX goes up, Bitcoin goes down. Interesting.

In some cases I have seen proposed correlations to the Dow Jones Index. And still others have proposed correlations with other currencies such as the Dollar EFT UUP. I've even seen some people propose correlations between Gold (GLD) and Bitcoin.

So what is it?

As you look at the charts you can see in most cases periods of time where Bitcoin seemed to be correlated with each of those instruments.

If you ever wanted to see a current list of active crypto-currencies go to: https://coinmarketcap.com/

An interesting site is SIFR Data...where correlations between crypto currencies and equity-based instruments such as the SPX, VIX and others are plotted in a matrix. https://www.sifrdata.com/cryptocurrency-correlation-matrix/

As you examine that site looking at the relationships plotted you will soon see that there is higher positive correlation between Bitcoin and other crypto currencies. But there's not a strong, sustainable (over time) positive or negative correlation between Bitcoin and stocks or stock indexes. Although as I mentioned there are certainly periods of empirical overlap.

In the cointelegraph.com article on Bitcoin correlation to the stock market... https://cointelegraph.com/news/so-is-there-a-correlation-between-bitcoin-and-stock-market-yes-but-no

Tom Lee (from Fundstrat) states: "Cryptocurrencies have their own economy based on activity on that Blockchain. Equities have their own economy based on earnings per share multiples. The institutional overlap is essentially zero."

So, rather than trying to find a correlation; what if you approached Bitcoin and other crypto-currency trading using some basic technical analysis? Would that work?

What if you looked at the Bitcoin future (/XBT) from CBOE or the NYXBT Bitcoin NYSE index.

On any given day using some technical analysis such as certain moving averages, RSI settings, and probability analysis...could you find some highly probable locations?

I did a little back testing and found some probable locations using certain technical settings. What have you found?

Thanks for joining and until next time...let me know what techniques you are using for your Bitcoin entry and exit locations.

Over the years I have seen long term investors, day traders, and everyone in between make money, and lose money. What are the key elements that separate the winners and those that take a loss? Before I get to the list of 5 (kind of sounds like the Magnificent 7)...we must first have this NON-NEGOTIABLE list of 3.

1. Discipline 2. The Ability to Take a Loss 3. Mindset

In fact, with out these first three, you should not be investing or trading. Get some mentoring on these before you get into the technical details. 1. Discipline This is crucial...it requires an investing plan with a set of rules and the discipline to invest or trade the plan. But this is generally where human weakness or emotion enters and despite all the good intentions of a plan; it falls to the wayside.

2. The Ability to Take a Loss This one is closely related to Discipline. But, because it is so important I have separated it. It is the hurdle to cross when you are working so hard to protect your capital that it results in taking bad losses. The key here is to have strong risk management practices and then the discipline to follow them.

3. Mindset You must have the mindset of an investor or trader, off-loading past baggage. Sometimes this is learned much later how important this is.

Now, let's get to the list of the 5, let's assume we have the NON-NEGOTIABLE 3 from the previous list nailed down. They are the rite of passage.

So this list is really a set of technical items that qualify the investing or trading opportunity. Whether you are a long-term, buy and hold investor or a short-term trader. These are not listed in any particular order...

1. Multi-timeframe momentum 2. Multi-timeframe probability 3. Related-market probability 4. Market structure location 5. Time

1. Multi-timeframe momentum Ultimately for most of us there are larger forces than us acting on any given market. So, it is crucial to know the level of participation of those who have the bigger influence in the market and how fast they are pushing it.

2. Multi-timeframe probability Similar to momentum, we need to understand the probability of a given price location on multiple timeframes.

3. Related-market probability If we are going to invest in a market, we need to spend the time and energy to understand related markets and how they are behaving. Here's a simple example. When gasoline decreases in price what industries are inversely correlated? Airlines, transportation, and so forth. Know the related markets and understand their probabilities and direction.

4. Market structure location In the end it is momentum and probability that create market structure. The popular locations to invest, the popular prices, the prices that are avoided. In general market structure is a by-product of momentum and probability.

5. Time This is a critical one that is often overlooked. Some times it is expressed in seasonality, such as the example I gave on gasoline which may increase or decrease at certain times of the year. It is important to know timing for your market and the factors influencing the timing.

To say it another way...this is all about understanding CONTEXT. Know your market's context, and the 5 things I mentioned here will help with that.

So, we need the two lists: 1. The Non-Negotiable 3 item list; do not proceed to "GO" or collect $200 to use a Monopoly analogy until you have made significant progress on those.

2. The Technicals list; get the context of your market to benefit your investing or trading decision.

Thanks for joining and until next time...get your two lists!!

Starting with what you have right now is a common theme of those who have built their financial foundation. I recently read the One Minute Millionaire where he lists what he calls "Aha"s. An "aha" is an epiphany of truth that applies to building your financial foundation. Where we may think the answer is "Give ME the MONEY FIRST"...it turns out, that what we have right now is sufficient to get started on our journey.

There are three steps: 1. Build Your Financial Foundation 2. Grow Your Wealth Strategy Awareness 3. Apply Wealth Strategies

I heard a talk recently on setting goals and what I liked about it is how it cascades down from top to bottom.

After I thought through it I built a spreadsheet that connects 1 year goals to Quarterly goals, down to monthly goals and into weekly execution.

The goals at each level are organized with the One Minute Millionaire. True wealth is a balance of physical, spiritual, relationships, money, service to others, and other factors.

Body (Your physical goals):

Brain (Your intellectual goals - books you read, amount of daily study):

Being (Your spiritual goals - the time you spend meditating or praying):

Time (Your organizational goals):

People (Your people goals - concerning the most important people in your life):

Money (Your financial goals):

Let's say you are planning your weekly execution, then the spreadsheet will show you the quarterly goals you set in each area and you can break it down into bite-sized steps.

We each want to grow our ability to give to others. Not only set goals to do this, but also track those goals down into executable steps so that YOU can: 1. Build Your Financial Foundation 2. Grow Your Wealth Strategy Awareness 3. Apply Wealth Strategies

Hey, if you want the spreadsheet reach out to me at [email protected].

Soon I will be making it available as part of my courses on financialinvestingsecrets.com

Thanks for joining, until next time: get serious about putting your wealth goals into action to grow your ability to help others!!

Applying some technical analysis to Bitcoin looking for a great entry point with high probability. With a 86% retracement since the high in December 2017 we see Bitcoin below its 200 moving average.

The thing to watch is the rising momentum. Will Bitcoin support in the 6000 area hold and will it rise above its 200 moving average?

Achieving our aspirations to give, to help others, and to bring joy into other people's lives is a critical objective for us. When we are able to positively influence others in our community and in our lives we experience a joy and peace that is tangible.

Growing our financial footing can increase the reach of our influence and ability to help others. Often the route we go looks something like this: 1. Financially sufficient 2. Financially free 3. Community & Generational impact (the need to give) a. we have an innate desire to give, to be of value and to impact other people's lives

Financial Sufficient - we may have developed sufficient skills to provide for ourselves and those around us - often we feel the need to increase our financial foundation with a desire to increase the reach of those we'd like to serve - a critical characteristic to have at this stage is the ability to feel gratitude for what we do have

Financially Free - achieving this level of financial position removes the need to worry about how we will financially survive on a daily basis - but obtaining the finances without a higher purpose can feel empty - I have heard some liken the impact of alot of money on a person to a bullhorn; the more money you have the louder you can be - This is why having gratitude and the inner qualities is such a critical matter

Community & Generational Impact - this is often a key driver and the rationale for pursuing financial growth - often we think about this in a linear manner; meaning, we think having Community and Generational is at the end when we have accomplished some astronomical financial level

However, I view these more as an iterative process.

We iterate through these three as a spiral, ever increasing in our financial sufficiency and gratitude, our financial freedom, and our community and generational impact.

Some of the greatest people that have impacted the world have had very little money, but they had sufficient, they were grateful for what they did have, they were financially free to operate and accomplish their objectives, and they used their resources to benefit their communities, their family, and others.

The trick is to enjoy the journey along the way. To see the journey as a chance to use our increasing, or decreasing resources as a way to improve and impact the lives of those around us.

Establishing the roadmap to increase one's financial freedom and generational impact is a wonderful journey. But it is a journey that happens daily and the impacts are given daily, and not at the END of the journey.

Thanks for joining, and until next time let's use our resources to do good along the way and set our goals to increase our impact for good.

Noah Davidson shares his back story of learning about trading and investing. After two initial failed attempts he learned the secrets of making good trading and investing decisions. Twenty years later he is an accomplished educator and successful trader of many instruments. Noah shares the patterns he has observed of good and bad trading and investment behaviors.

It is my privilege to interview another expert in his field. It all started with Halloween candy many years ago. Kenny would organize the candy into piles and then set aside piles for eating and other piles were meant for longer term use. We first noticed it when Kenny was eating Halloween candy at Christmas time. Later, we noticed he was eating Halloween candy during school spring break.

This all came to a head when we realized Kenny had stored some of his Halloween candy for an entire year!

From here Kenny built on his skills and used it with saving money.

When Kenny got to college he budgeted savings every month, even on a tight budget.

I asked Kenny: What are the hardest things to overcome when having a strong saving plan? - the ability to not spend - the ability to stick with the budget - when to know to pull from savings

What is the benefit of having savings - peace of mind - security

Why save? - to have the resources start working for you, to invest

Thanks for joining us, and until next time...start saving!!

I read an article not long ago where regarding an author, Steve Siebold on his book "How Rich People Think". Now you may or may not agree with the summary of this material; but there are some interesting insights.

Here are just a few of the items he listed:

Average people think MONEY is the root of all evil. Rich people believe POVERTY is the root of all evil. - I tend to think it is more the LOVE of money, not just money itself, is the root of all evil

Average people think selfishness is a vice. Rich people think selfishness is a virtue. - If I understand it right the logic here is like the air bags on an airplane, take care of yourself 1st then you can help others. There is something powerful about Self Reliance.

Average people have a lottery mentality. Rich people have an action mentality. - This is a critical, you must be willing to move and act.

Average people think the road to riches is paved with formal education. Rich people believe in acquiring specific knowledge. - Education is super critical, the more relevant, actionable knowledge you can acquire the better.

Average people long for the good old days. Rich people dream of the future. - Of course there is nothing wrong with having good memories to look back upon; but have an eye toward the future is critical; it brings hope.

Average people see money through the eyes of emotion. Rich people think about money logically. - It is best to see money as a tool, as a means to an end.

Average people earn money doing things they don't love. Rich people follow their passion. - I think back to some of the jobs I've had from milking cows to being a dishwasher; these all build character, but I agree that you need to be looking to do what you enjoy.

Average people set low expectations so they're never disappointed. Rich people are up for the challenge.

Average people believe you have to DO something to get rich. Rich people believe you have to BE something to get rich.

Average people believe you need money to make money. Rich people use other people's money.

Average people believe the markets are driven by logic and strategy. Rich people know they're driven by emotion and greed.

Average people live beyond their means. Rich people live below theirs.

Average people teach their children how to survive. Rich people teach their kids to get rich.

Average people let money stress them out. Rich people find peace of mind in wealth.

Average people would rather be entertained than educated. Rich people would rather be educated than entertained.

Average people think rich people are snobs. Rich people just want to surround themselves with like-minded people.

Average people focus on saving. Rich people focus on earning.

Average people play it safe with money. Rich people know when to take risks.

Average people love to be comfortable. Rich people find comfort in uncertainty.

Average people love to be comfortable. Rich people find comfort in uncertainty.

Average people never make the connection between money and health. Rich people know money can save your life.

Average people believe they must choose between a great family and being rich. Rich people know you can have it all.

Whether you agree with each of these items or not each of us have to decide. It is important to understand that the mindset matters.

I heard a great story about a young man who got a job at a retail store bringing in the carts from the parking lot. It was hot and humid as he finished his first day on the job. He went home and his mom asked how his first day was at work. She explained how bad she felt that he had to take such a low level job.

He responded...'actually, I am the person responsible for setting the first impression as people come to the store; I ensure it is orderly, clean, and well cared for'.

He wasn't bringing in shopping carts; he was setting the first impression for customers.

That's mindset.

And when it comes to wealth...it matters.

Thanks for joining and until next time...get into the right mindset.